Vaughan Nelson Investment Management L.P. Grows Stock Holdings in Avery Dennison Co. (NYSE:AVY)

Vaughan Nelson Investment Management L.P. lifted its position in shares of Avery Dennison Co. (NYSE:AVY) by 0.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 44,836 shares of the industrial products company’s stock after buying an additional 70 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 0.06% of Avery Dennison worth $9,899,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AVY. Intech Investment Management LLC increased its holdings in Avery Dennison by 3.3% in the 2nd quarter. Intech Investment Management LLC now owns 1,559 shares of the industrial products company’s stock valued at $341,000 after acquiring an additional 50 shares during the last quarter. Empirical Finance LLC increased its holdings in Avery Dennison by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 2,822 shares of the industrial products company’s stock valued at $623,000 after acquiring an additional 55 shares during the last quarter. Procyon Advisors LLC increased its holdings in Avery Dennison by 4.0% in the 3rd quarter. Procyon Advisors LLC now owns 1,442 shares of the industrial products company’s stock valued at $319,000 after acquiring an additional 56 shares during the last quarter. Bailard Inc. increased its holdings in Avery Dennison by 0.5% in the 2nd quarter. Bailard Inc. now owns 12,202 shares of the industrial products company’s stock valued at $2,668,000 after acquiring an additional 61 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC increased its holdings in Avery Dennison by 4.5% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 1,479 shares of the industrial products company’s stock valued at $327,000 after acquiring an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 94.17% of the company’s stock.

Insider Transactions at Avery Dennison

In other news, Chairman Mitchell R. Butier sold 7,108 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $218.12, for a total value of $1,550,396.96. Following the completion of the sale, the chairman now owns 304,114 shares of the company’s stock, valued at approximately $66,333,345.68. This represents a 2.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVY. JPMorgan Chase & Co. downgraded shares of Avery Dennison from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $230.00 to $210.00 in a report on Thursday, October 24th. UBS Group downgraded shares of Avery Dennison from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $262.00 to $235.00 in a report on Thursday, July 25th. Truist Financial boosted their target price on shares of Avery Dennison from $253.00 to $258.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Bank of America upgraded shares of Avery Dennison from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $207.00 to $250.00 in a report on Thursday, October 17th. Finally, Citigroup reduced their target price on shares of Avery Dennison from $241.00 to $240.00 and set a “neutral” rating on the stock in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $244.96.

Avery Dennison Stock Performance

Shares of NYSE:AVY opened at $197.73 on Monday. The company has a market capitalization of $15.89 billion, a price-to-earnings ratio of 23.74, a PEG ratio of 1.52 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.62 and a debt-to-equity ratio of 0.85. Avery Dennison Co. has a 12 month low of $186.66 and a 12 month high of $233.48. The firm’s 50-day moving average is $212.79 and its 200 day moving average is $217.52.

Avery Dennison (NYSE:AVY) last announced its quarterly earnings results on Wednesday, October 23rd. The industrial products company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.01. Avery Dennison had a net margin of 7.76% and a return on equity of 33.01%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the company earned $2.10 EPS. The company’s revenue was up 4.1% compared to the same quarter last year. Research analysts predict that Avery Dennison Co. will post 9.42 EPS for the current year.

Avery Dennison Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.78%. Avery Dennison’s payout ratio is presently 42.26%.

About Avery Dennison

Avery Dennison Corporation operates as a materials science and digital identification solutions company in the United States, Europe, the Middle East, North Africa, Asia, Latin, America, and internationally. It provides pressure-sensitive materials comprising papers, plastic films, metal foils, and fabrics; performance tapes products, including tapes for wire harnessing, as well as cable wrapping for automotive, electrical, and general industrial applications; mechanical fasteners, which are precision-extruded and injection-molded plastic devices used in various automotive, general industrial, and retail applications; and other pressure-sensitive adhesive-based materials and converted products under the Fasson, JAC, Yongle, and Avery Dennison brands.